# Asia FX Outlook 2024: Event risk could dominate | articles | ING THINK

> ING's Asia FX Outlook for 2024 says Asian currencies lost ground to the US dollar in 2023, with the ringgit the weakest at more than 5.5% lower. It expects partial recovery in 2024 but flags event risks from soft Chinese growth and elections, including Taiwan in January.

- Date: 2023-11-15 · published 2023-11-15T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/33436-asia-fx-outlook-2024-event-risk-could-dominate-articles-ing-think
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected Asian currency recovery would lower the local-currency cost of dollar-priced feed imports across the region. Chinese growth risks could also soften demand for feed ingredients.

## Read by commodity

- DXY: neutral
- USDCNY: neutral
- USDMYR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-11-14 | [Asia FX Talking: China will try to hold the line \| articles \| ING THINK](https://feedsoft.ai/events/6697-asia-fx-talking-china-will-try-to-hold-the-line-articles-ing-think.md) | +0.3% | +0.6% |
| USDCNY | 2024-06-17 | [Asia FX Talking: China to continue resisting a weaker renminbi \| articles \| ING THINK](https://feedsoft.ai/events/30010-asia-fx-talking-china-to-continue-resisting-a-weaker-renminbi-articles-ing-think.md) | +0.0% | +0.2% |
| USDCNY | 2019-03-25 | [China: How opening up the financial sector could affect the yuan \| articles \| ING THINK](https://feedsoft.ai/events/60331-china-how-opening-up-the-financial-sector-could-affect-the-yuan-articles-ing.md) | -0.1% | -0.2% |
| USDCNY | 2026-09-01 | [China reins in rising yuan as weak domestic demand clouds outlook](https://feedsoft.ai/events/18092-china-reins-in-rising-yuan-as-weak-domestic-demand-clouds-outlook.md) | -0.1% | -0.2% |
| USDCNY | 2025-04-29 | [Chinese yuan at a glance: There and back again \| articles \| ING THINK](https://feedsoft.ai/events/25350-chinese-yuan-at-a-glance-there-and-back-again-articles-ing-think.md) | -0.3% | -1.4% |
| DXY | 2021-01-28 | [FX: Challenging our bearish dollar forecast \| articles \| ING THINK](https://feedsoft.ai/events/49343-fx-challenging-our-bearish-dollar-forecast-articles-ing-think.md) | +0.2% | -0.1% |
| DXY | 2023-11-30 | [FX Daily: Dollar rebound increasingly hinges on activity data \| articles \| ING THINK](https://feedsoft.ai/events/33381-fx-daily-dollar-rebound-increasingly-hinges-on-activity-data-articles-ing-think.md) | +0.6% | -1.2% |
| DXY | 2018-09-26 | [A crucial Fed meeting for the dollar \| articles \| ING THINK](https://feedsoft.ai/events/63240-a-crucial-fed-meeting-for-the-dollar-articles-ing-think.md) | +0.2% | +1.5% |

## Sources

- think.ing.com: https://think.ing.com/articles/asia-fx-outlook-2024-event-risk-could-dominate/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.